Mrs. Bectors Food Specialities (BECTORFOOD) Q3 25/26 earnings summary

Executive summary

• Revenue from operations for Q3 FY26 reached INR 533.3 crores, up 8.4% year-over-year, with biscuits and bakery segments both contributing to growth.

• Biscuits grew 6% year-over-year, impacted by GST 2.0 transition and tariffs, while bakery grew 13% year-over-year, led by English Oven.

• Gross profit for Q3 FY26 was INR 240.1 crores, up 8.2% year-over-year; EBITDA grew 11.4% to INR 68.4 crores.

• Profit after tax for Q3 FY26 stood at INR 38.1 crores, a 10.1% increase year-over-year.

• Interim dividend of INR 0.6 per equity share declared.

Financial highlights

• Q3 FY26 consolidated revenue: INR 533.3 crores vs INR 492.1 crores in Q3 FY25 (8.4% growth).

• Q3 FY26 EBITDA: INR 68.4 crores, up 11.4% year-over-year; EBITDA margin at 12.8%.

• Q3 FY26 PAT: INR 38.1 crores, up 10.1% year-over-year; PAT margin at 7.1%.

• 9M FY26 revenue: INR 1,557.7 crores (9.1% growth); 9M EBITDA: INR 195.9 crores; 9M PAT: INR 105.5 crores.

• FY25 revenue was INR 1,873.9 crores, EBITDA INR 251.5 crores (13.4% margin), PAT INR 143.2 crores (7.6% margin).

Outlook and guidance

• Exports expected to rebound with new trade agreements, targeting mid- to high-teens growth in FY27.

• Domestic biscuits and bakery segments to maintain sequential improvement, aiming for low- to mid-teens growth.

• Margins expected to reach 14% in H1 FY27, with some gross margin improvement anticipated.

• Expansion into new geographies with new bakery units in Kolkata and Khopoli, and new biscuit lines in Rajpura and Dhar.

• Focus on premiumization, health-oriented products, and new product development to drive future growth.